This is a legacy page. Please click here to view the latest version.
Fri 16 Nov 2018 09:21

Date set for Aegean final basis motions to be heard


US court to hear motions on December 4.


Image: Pixabay
The US court handling the bankruptcy case involving marine fuel and lubricants specialist Aegean Marine Petroleum Network Inc has confirmed that it will hear a number of motions on a final basis on December 4.

The list of motions for entry of interim and final orders has been provided below.

1. Cash Management Motion

Aegean seeks approval to operate its cash management system, maintain existing bank accounts and continue to perform intercompany transactions. The motion was previously approved on an interim basis.

2. Hedging Motion

Aegean aims to get the court's consent to continue pre-petition hedging practices, commence post-petition hedging practices, grant superpriority claims on account of the post-petition hedging obligations, pay pre-petition hedging obligations and grant related relief.

3. Insurance Motion

Aegean aims to get the court's permission to continue pre-petition insurance coverage and surety bonds; renew and enter into new insurance policies and surety bonds; and continue to pay brokerage fees.

4. Taxes Motion

Aegean seeks authorization to pay certain taxes and fees.

5. Wages Motion

At a previous hearing on November 8, Aegean was authorized, on an interim basis, to pay an amount not exceeding $4.75m to cover compensation and withholding obligations (including $3.75m in unpaid wages); benefits and entitlements; and other employee benefits;

6. Vendor Motion

Aegean was previously given the go-ahead, on a provisional basis, to pay foreign claims up to $3m; lien claims up to $4.3m; 503(b) claims up to $11.1m; and HSE and other claims in the ordinary course of business.

7. Creditor Matrix Motion

Aegean seeks authorization to file a consolidated list of its creditors - instead of filing separate mailing matrices and creditor lists for each debtor business, and also wants to file a consolidated list of its largest 30 unsecured creditors.

Additionally, the court noted that it could also hear the Utilities Motion either on December 4 or at a future date.

In the Utilities Motion, Aegean is seeking an order to approve its proposed assurance of payment for utility services; and it also aims to prohibit utility providers from altering, refusing, or discontinuing services.

Objections, if any, to the motions must be served on or before November 27.


Singapore Port viewed from The Pinnacle@Duxton. Singapore marine fuel sales dip 1.2% in October  

First YoY decline since February as sales of best-selling product fall despite bunker calls rising to second-highest level in port's history.

Daria Sukhanova, PMG Energies. PMG Energies appoints Daria Sukhanova as bunker trader  

Marine fuel business adds trader with over five years of experience to its team.

CMA CGM Salamanque vessel alongside Edison's Ravenna Knutsen vessel. CMA CGM and Edison complete Italy's first STS LNG bunkering for a boxship  

Ship-to-ship operation marks the first time LNG has been delivered to a container vessel in the Adriatic.

Simona Toma, Columbia Group. Columbia Group prioritizes LNG training to build seafarer competence  

Ship manager says LNG knowledge will form the foundation for working safely with future fuels.

Methanol fuel safety guidelines graphic. ClassNK updates methanol fuel guidelines as alcohol-fuelled ship orders rise  

Japanese classification society releases revised safety requirements for methyl and ethyl alcohol-fuelled vessels.

Island Oil Holdings logo. Island Oil seeks front office administrator in Limassol  

Cyprus-based bunker supplier and trader advertises role with benefits including provident fund.

NSU Tubarao vessel. Anemoi completes rotor sail installation on 400,000 DWT ore carrier  

UK firm fits five 35m-tall units on NS United vessel, targeting 6-12% fuel savings.

Liberty Marine Fuels 10-year anniversary graphic. Liberty Marine Fuels marks 10 years in bunker brokering  

Aalborg-based bunker broker celebrates a decade of operations connecting shipowners, charterers, and suppliers.

Charis Chartosias, Island Oil. Island Oil appoints Charis Chartosias as Commercial Development Manager  

Marine fuel trader brings over 14 years' experience to Limassol-based company.

Amalie Møller Simonsen, Malik Supply. Malik Supply appoints HR consultant to support organisational development  

Danish marine fuel trader hires Amalie Møller Simonsen with HR experience at Gjensidige and Netcompany.


↑  Back to Top